High-Grade Mineral Resources For Alacran Copper and Gold Deposit

TORONTO, ON - Cordoba Minerals Corp. and its joint-venture partner, High Power Exploration Inc. reported initial Mineral Resource estimate for the Alacran Copper-Gold Deposit in Colombia.

The initial, pit-constrained, Inferred Mineral Resource for the Alacran Deposit is 53.52 million tonnes at 0.70% copper and 0.37 g/t gold, or 0.95% copper equivalent (CuEq), including 7.37 million tonnes at 2.14% copper and 0.41 g/t gold above 1% copper (Cu) cut off. The Inferred Mineral Resource is contained within a shallow, north-south trending mineralized corridor that is approximately 1.3 kilometers long and up to 355 meters wide.  

Mineral resources are reported within a conceptual open-pit shell which extends for the full length of the 1.3 kilometer corridor and to a depth of 220 meters below surface. The broad horizontal widths of mineral resource zones from surface are considered favorable for potential open-pit development at relatively low potential strip ratios, subject to the demonstration of economic viability.

Copper-gold mineralization has been intercepted in drill holes and the conceptual pit shell and also at depths greater than 220 meters below surface; however, this mineralization was not included in the initial Inferred Mineral Resource due to insufficient drilling at the Mineral Resource cut-off date. This mineralization provides the joint venture with immediate drilling targets which could materially expand the Inferred Mineral Resource. 

The Alacran mineralized system remains open to depth. Surface copper-gold geochemical anomalies also indicate significant potential for additional mineralized zones to the east and west of the Mineral Resource. The potential for the discovery of the mineralizing source for the high-grade copper and gold at Alacran is considered strong. Drill targets have been identified and will be aggressively tested by the joint venture this year. 

Mario Stifano, President and CEO of Cordoba, commented, "We are pleased with the initial mineral resource which demonstrates the potential for the Alacran Project to host a significant tonnage of high-grade, potentially open-pittable copper-gold mineralization. This is just the beginning as our ongoing, aggressive drilling program is aimed at growing the mineral resources in size and confidence levels, extending high-grade copper- and gold-rich mineralized zones and drilling additional exploration targets with potential to add a new and significant exploration front to Alacran."

The Alacran copper-gold deposit is located within the Company's San Matias Copper-Gold Project in the Department of Cordoba, Colombia, an area where access and infrastructure are considered favorable. The Alacran system is located on a topographic high in gently rolling topography, optimal for potential open-pit mining. Copper-gold mineralization at Alacran is largely hosted in a marine volcano-sedimentary package on the west-dipping limb of a faulted anti formal fold structure and partly in dioritic and felsic intrusions with sill-like geometries. The deposit comprises moderately- to steeply-dipping copper-gold mineralized zones, broadly concordant with host litho-stratigraphy and intrusion contacts. The copper-gold mineralization consists of chalcopyrite-pyrrhotite-pyrite veins, replacements (including massive sulfides) and disseminations that locally overprint hydrothermal magnetite-rich zones that are most strongly developed near intrusion contacts. Mineralization on occurs over a strike length of more than 1,300 meters with horizontal widths up to 355 meters and has been drill-intersected to depths of 300 meters from surface.